SMH · Shane Wright · Tuesday 21 April 2026
Australia's national debt hits $1 trillion in Chalmers' fifth budget, with interest payments set to exceed hospital spending within two years.
A trillion dollars and within two years the interest bill eats more than the hospital budget. Every government since Howard has borrowed against the mining boom like a bloke putting the mortgage on the pokies and calling it an investment strategy. Chalmers will stand up and call it 'responsible' — the word has done more heavy lifting in Australian fiscal policy than any actual worker.